IMPLICATIONS OF THE FINANCIAL GLOBALISATION ON THE FINANCIAL STABILITY – PRICE STABILITY RELATIONSHIP

Marius Apostoaie and Cezar-Gabriel Ciortescu
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Cezar-Gabriel Ciortescu: “Alexandru Ioan Cuza” University, Iasi

Theoretical and Applied Economics, 2011, vol. 5(558)(supplement), issue 5(558)(supplement), 563-570

Abstract: This paper aims to emphasize some implications of the financial globalisation – the most recent, dynamic and alive form of the globalising process – on the relationship between price stability and financial stability and to what extent the central banks include these two important objectives in their regulations. The present context revives the dilemma on whether the monetary policy should or not assume as a main objective the ensuring of the financial stability in parallel with the fundamental current purpose of most central banks – to ensure the price stability. Although contradictory, the arguments brought by both sides, are solid enough.

Keywords: financial globalisation; price stability; financial stability; central banks; monetary policy. (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:agr:journl:v:5(558)(supplement):y:2011:i:5(558)(supplement):p:563-570

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